Whitaker Myers Wealth Managers LTD. Grows Position in Quanta Services, Inc. $PWR

Key Points

• Whitaker Myers Wealth Managers LTD. increased its stake in Quanta Services, Inc. by 127.2% during the second quarter, bringing their total holdings to 3,358 shares valued at $1.27 million.
• Analysts have given Quanta Services a consensus rating of "Moderate Buy", with target prices ranging from $400 to $474 as several firms have recently issued upgrades or maintained buy ratings.
• Quanta Services reported $2.48 earnings per share for its latest quarter, surpassing expectations, with revenue reaching $6.77 billion, a 21.1% year-over-year increase.

Whitaker Myers Wealth Managers LTD. increased its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 127.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,358 shares of the construction company's stock after buying an additional 1,880 shares during the quarter. Whitaker Myers Wealth Managers LTD.'s holdings in Quanta Services were worth $1,270,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. SCP Investment LP purchased a new position in Quanta Services during the 1st quarter worth approximately $966,000. Brighton Jones LLC purchased a new position in shares of Quanta Services in the 4th quarter valued at approximately $298,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Quanta Services by 3.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock valued at $17,480,000 after purchasing an additional 2,479 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Quanta Services by 60.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock valued at $404,000 after purchasing an additional 588 shares during the last quarter. Finally, Objectivity Squared LLC purchased a new position in shares of Quanta Services in the 1st quarter valued at approximately $213,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

Analyst Ratings Changes

PWR has been the topic of several analyst reports. UBS Group lifted their target price on Quanta Services from $413.00 to $474.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Roth Capital reiterated a "buy" rating and issued a $450.00 target price (up from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. Seaport Res Ptn upgraded Quanta Services to a "hold" rating in a research note on Thursday, July 10th. BMO Capital Markets downgraded Quanta Services from an "outperform" rating to a "market perform" rating and lifted their target price for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Finally, TD Cowen raised their price target on Quanta Services from $355.00 to $425.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Thirteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $397.18.

Quanta Services Stock Performance

Shares of PWR stock opened at $382.50 on Friday. The stock has a fifty day moving average price of $387.66 and a 200 day moving average price of $334.82. The stock has a market cap of $57.00 billion, a PE ratio of 59.21, a P/E/G ratio of 2.31 and a beta of 1.01. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $424.94. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.55 billion. During the same period in the previous year, the firm posted $1.90 earnings per share. The business's revenue for the quarter was up 21.1% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Sell-side analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Wednesday, October 1st. Quanta Services's payout ratio is 6.19%.

About Quanta Services

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company's Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.

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